Eldorado Resorts, Inc. to acquire Tropicana Entertainment
for US$ 1.8 bn
RCI adds five new Resorts in Japan
THE DEFINITIVE SOURCE FOR INVESTMENT PROMOTION EXECUTIVES
P&G acquires Consumer Health Business of Merck KGaA, Germany for
US$ 4.2 bn
it & BPM i FOOD I HEALTHCARE i TEXTILES i INFRASTRUCTURE i ENGINEERING i tourism
16-21 APRIL 2018
Total to acquire French electricity retailer Direct Energie for US$ 1.7 bn
Servier agreed to acquire Shire’s Oncology business for US$ 2.4 bn
Tata, Lockheed Martin bring new cutting-edge Aerospace technology to India
Total to acquire French electricity retailer Direct Energie for $ 1.7 billion
Total has entered into an agreement with the controlling shareholders of Direct Energie for the proposed acquisition of 74.33% of its share capital, for approximately €1.4 billion.
“Through this transaction, Total is actively pursuing its development in electricity and gas generation and distribution in France and Belgium. This friendly takeover is part of the Group’s strategy to expand along the entire gas-electricity value chain and to develop low-carbon energies, in line with our ambition to become the responsible energy major”, said Patrick Pouyanné, Chairman and CEO of Total. “We are delighted to welcome the Direct Energie teams into Total, who will contribute their skills in the field of electricity and who will be at the heart of the Group’s growth ambition in this field.”
“We welcome this transaction with pride and enthusiasm and we are convinced that combining with Total will be to the benefit of our customers.” said Xavier Caïtucoli, Chairman and CEO of Direct Energie. “The Direct Energie teams will be at the heart of the strategy of one of the greatest French companies. I have no doubt that their hard work, creativity and talents will allow the new entity to expand its ambitions”.
In the field of natural gas and electricity distribution to both consumers and professionals, Total is firmly establishing itself as a leading alternative supplier by combining its 1.5 million client portfolio with Direct Energie’s 2.6 million client portfolio. This combination will enable Total to pursue its ambitious development program to become a standard-setting player in electricity supply in France and Belgium, targeting over 6 million customers in France and more than 1 million customers in Belgium by 2022.
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Vermilion Energy Inc., is pleased to announce that we have entered into an arrangement agreement to acquire Spartan Energy Corp., a publicly traded southeast Saskatchewan oil and gas producer, with annual production of approximately 23,000 boe/d (91% oil). Total consideration for Spartan is approximately $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt.
The Board of Directors of Vermilion and Spartan have unanimously approved the Arrangement and recommended that Spartan shareholders vote in favour of the Arrangement. The Arrangement remains subject to customary closing conditions, including receipt of applicable court, Spartan shareholder, TSX and NYSE, and other regulatory approvals, and is expected to close on or about June 15, 2018.
Vermilion focuses on high-netback producing areas with favourable fiscal and regulatory regimes. We entered southeast Saskatchewan with the acquisition of Elkhorn Resources in 2014, and have since continuously evaluated opportunities to expand our position in this area. We added approximately 30 sections of land to our southeast Saskatchewan core area through the end of 2017, and further augmented our asset base with the acquisition of a private southeast Saskatchewan oil producer in early 2018. The acquisition of Spartan is a value-adding investment which meets our disciplined M&A criteria. The Acquisition significantly increases our position in southeast Saskatchewan, and aligns with our sustainable growth-and-income model by appending high-netback, low decline assets with free cash flow and strong capital efficiencies on future development.
Making no deduction for undeveloped land value, transaction metrics equate to $12.33 per boe of proved plus probable ("2P") reserves (based on Spartan's reserve report(1)), and $60,900 per flowing barrel of production. Based on April 13, 2018 WTI strip pricing of US$65.19/bbl, the operating netback for the acquired assets is estimated at approximately $38.42 (2) per boe. Using a 2P finding, development and acquisition cost of $19.48 per boe (including future development capital) based on the Acquisition consideration and Spartan's reserve report, the acquired assets are expected to deliver a 2P operating recycle ratio of 2.0 times (including the Acquisition cost).
Vermilion Energy to acquire Spartan Energy Corp.
for $1.4 billion
GCL-Poly will invest $1.4 billion to establish 20 GW factory in China
GCL-Poly Energy Holdings Limited, a subsidiary of GCL, the world's leading clean energy conglomerate, has signed a joint venture agreement with the Qujing Municipality of Yunnan Province, China Contract "), which is expected to invest 9 billion yuan (US $ 1.4 billion) in building a monocrystalline silicon project in the Special Economic and Technical Development Zone in Qujing, with a total output of 20 The Joint Venture (JV) intends to use the company's proprietary revolutionary CCZ technology (Continuous Czochralski, Czochralski Uninterruptible Process) to produce monocrystalline silicon.
The CCZ process is a highly efficient technique for the production of next-generation monocrystalline silicon using a special Czochralski fusion crystal growth to pull crystal rods during the filling and melting process. 8-10 rods can be pulled in a single melt pass. Currently, the RCZ process, the Czochralski process with refilling, is mainly used throughout the industry. Compared to RCZ technology, CCZ crystal rods offer better quality and more uniform and dense conductivity. This makes them better suited for Type-P-PERC and Type-N batteries.
Over the past year, GCL-Poly has improved the cost-effectiveness and product quality of the CCZ process. This was achieved through the further development of equipment and the supply chain in Germany and through process optimization. At the latest, once the new facilities are up and running, GCL-Poly will be the only company in the world to implement CCZ technology on an industrial scale, and it will take the monocrystalline silicon wafer industry to a whole new level.
With unprecedented volume fueled by the rise of e-commerce and the growth of Canadian businesses, UPS plans to invest more than $500 million towards facility expansions and technological enhancements in Canada, adding more than 1,000 new jobs. The investment in Canada is included in the company’s previously stated capital expenditures for 2018.
Construction of a $125-million, 180,000 sq. ft. expansion to the company’s Montreal hub, which will be UPS’s first automated sorting facility in Canada, has already begun. Additional facility-based projects include expansions in the Greater Toronto Area and other parts of Ontario as well as Quebec, British Columbia, Alberta and Manitoba.
"UPS is the kind of company we want in Canada, one that invests in its people and creates better opportunities for hard working folks to get ahead. I am thrilled they will expand their Canadian operations, invest in our economy, and create so many good, well-paying middle class jobs for Canadians,” said Prime Minister Justin Trudeau.
As the first market in the company’s international expansion in 1975, UPS’s Canadian operations have grown to include more than 12,000 employees, 1,100 UPS Access Point locations and 63 facilities covering more than 2.3 million sq. ft.
UPS to invest $500 million in Canada & create
1,000 new jobs
Singapore-based vCargo Cloud Pte. Ltd. (“VCC”), a global integrated e-trade solutions provider, said that it will acquire a 60%-stake in Indonesian integrated logistics player PT Gatotkaca Trans Systemindo (“GTS”), increasing VCC’s CamelONE deployment to 14 customs nodes globally.
Under the terms of the transaction, VCC will pay US$850,000 for 60% of the enlarged share capital of GTS and VCC will also extend a US$545,000 loan to GTS. Jakarta-based GTS provides a suite of logistics services such as trucking as well as freight and forwarding services.
VCC’s CamelONE deployment in Indonesia will link to the existing CamelONE network, allowing stakeholders to seamlessly transmit data across the 14 countries through its unified platform which connects governments, businesses and consumers. Complementary service providers such as insurance companies and financial institutions, are able to offer value-added services like cargo insurance and trade finance through the CamelONE platform.
This latest acquisition marks the third point of presence that VCC has established since the start of the year. In the past recent weeks, VCC has announced to set up its CamelONE platform for trade facilitation with government authorities in Djibouti, Africa and Cambodia.
Singapore’s vCargo Cloud acquires Indonesian integrated logistics player GTS
Tata Lockheed Martin Aerostructures (TLMAL), a joint venture between Tata Advanced Systems (TASL) and Lockheed Martin inaugurated India’s first-of-its-kind metal-to-metal bonding facility at Adibatla, Hyderabad.
The new 4,700 square-meter metal-to-metal bonding facility adds a new cutting-edge capability to the Indian aerospace industry and enables TASL to use this technology across manufacturing programmes for complex aero-structures manufacturing and increased indigenisation, which directly supports the Government of India’s ‘Make in India’ initiative. More than 80 skilled employees will work in this facility, which can be expanded to support future work.
The new facility and capacity expansion creates new job opportunities for skilled workers in India’s manufacturing sector and provide on-the-job training, which supports the Government of India’s ‘Skills India’ initiative.
Rolls-Royce and Goa Shipyard Limited (GSL), a premier defence shipbuilding yard in India under the Ministry of Defence, have agreed to cooperate in the local manufacturing of technologically-advanced MTU Series 8000 engines in India.
Under the agreement, which was signed at India’s leading defense trade show Defexpo, the companies will assemble the 16-cylinder and 20-cylinder MTU Series 8000 engines at GSL’s new facility in Goa. The MTU brand is a worldwide leader in large diesel and gas engines and complete propulsion systems and part of Rolls-Royce Power Systems.
The agreement includes transfer of MTU technology related to localising of engine components, engine assembly, testing, painting and major overhauls. MTU Series 8000 engines are the largest and most powerful MTU diesel engines with a power output of up to 10 MW. They are fitted onboard all Offshore Patrol Vessels (OPV) recently constructed or currently under construction in India. This includes eleven Coast Guard OPVs by GSL (six completed and five under construction), five Naval OPVs under construction at Reliance Defence Engineering and seven Coast Guard OPVs by L&T.
Rolls-Royce and Goa Shipyard Limited agree to manufacture MTU engines in India
Van Leeuwen Pipe and Tube Group acquires Ferrostaal Piping Supply
The Van Leeuwen Pipe and Tube Group has acquired the business of Ferrostaal Piping Supply, a German-Dutch pipe and tube trading company that primarily supplies the chemical, petrochemical and machine building segments. The acquisition takes effect on May 1, 2018.
Ferrostaal Piping Supply, founded in 1953, specializes in the supply of pipes and piping materials, and operates in the chemical and petrochemical, the equipment and machine building, and trade segments. The company's head office is in Essen, Germany. The company primarily focuses on markets in Germany and the Benelux. In addition, Ferrostaal Piping Supply exports its products to various parts of the world. The company's annual turnover is more than € 50 million and it employs approximately 40 persons.
Van Leeuwen's strategy is focused on further expanding and strengthening its leading market position in various industrial segments through means of acquisitions and autonomous growth. The acquisition represents an important expansion of Van Leeuwen's commercial network. Ferrostaal Piping Supply gives Van Leeuwen greater access to the German market, in particular the chemical and petrochemical segments, in which Van Leeuwen operates throughout the world. In addition, the acquisition provides an opportunity for further expanding the services provided to the machine building segment, a segment in which Van Leeuwen has successfully operated for many years in other European countries.
HCL Technologies (HCL) and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at US$330 million. HCL will own 80 percent while SEP will own approximately 20 percent stake of the JV entity which inturn will own 100% shareholding of Actian Corporation.
Palo Alto-based Actian–a leader in hybrid data management, cloud integration, and analytics solutions–powers insight-driven enterprises around the globe to help them solve the toughest data challenges. It owns market-leading products such as Actian Vector, the world’s fastest columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics. This acquisition will add cutting-edge intellectual property to HCL’s capabilities to enable global enterprises’ digital transformation journey.
Commenting on the acquisition, C Vijayakumar, President and CEO, HCL Technologies, said, “Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings like Cloud Native, Digital and Analytics, and DRYICETM , will be a powerful proposition to harness the power of hybrid data.”
HCL Technologies and Sumeru Equity Partners to acquire Actian Corporation
Equinix closes Metronode acquisition to become a market leader in Australia
Equinix, Inc. the global interconnection and data center company, announced the completion of its acquisition of Metronode, a leading data center provider operating facilities throughout Australia.
The acquisition makes Equinix the market leader in Australia with 15 International Business ExchangeTM data centers nationwide. It expands the company's operations in Sydney and Melbourne, and provides a presence in four new markets: Perth, Canberra, Adelaide and Brisbane.
Digital transformation could add as much as approximately US$35 billion to Australia's gross domestic product (GDP) by 2021, according to new joint research from Microsoft and IDC1. The expanded Platform Equinix® will provide significant opportunities for Australian organizations to continue their digital transformation, and move their IT infrastructure, applications and services closer to the digital edge in proximity to global customers and partners.
Automation Anywhere, the largest enterprise software provider in robotic process automation (RPA), announced it is expanding operations in India by opening a new facility in Bengaluru. After outgrowing its previous location in Bengaluru, the new center is focused on serving the increasing demand for Automation Anywhere's Intelligent Digital Workforce Platform. The company also has offices in Baroda and Mumbai, with a total of 385 employees as of today across the three locations with plans to hire over 300 new engineering and operations experts in India this year alone to support the growing demand.
India has been one of Automation Anywhere's core growth markets and the company will continue to aggressively hire people responsible for partner success, sales, solutions architecture, training, support, customer service and marketing at the new Bengaluru facility. The company has not only identified India as a leading growth market, but also as the country possessing the largest engineering talent pool to serve global customers.
Demand for RPA solutions in India has increased exponentially over the last few years due to significant adoption by GICs, financial institutions, telecom service providers, technology and manufacturing companies. Automation Anywhere expects its extraordinary growth momentum to continue as it invests in a technology ecosystem which has a rich talent pool, robust training programs and a strong partner network.
Automation Anywhere expands in India, opens new facility in Bengaluru
Servier agreed to acquire Shire’s Oncology business
for $2.4 billion
Servier, an independent international pharmaceutical company, announced that it has entered into a definitive agreement with Shire, a leading global biotechnology company focused on rare diseases, to acquire its Oncology business for $2.4billion. The acquisition allows Servier to establish an immediate and direct commercial presence in the United States, the world’s leading biopharmaceuticals market. Outside of the United States, where Servier is already present, the transaction significantly strengthens the Group’s oncology pipeline and portfolio of in-market drugs.
The transaction covers the transfer of Shire’s Oncology business including in-market products ONCASPAR® (pegaspargase), a component of multi-agent treatment for acute lymphoblastic leukemia (ALL) and ex-U.S. rights to ONIVYDE® (irinotecan pegylated liposomal formulation), a component of multi-agent treatment for metastatic pancreatic cancer post gemcitabine based therapy. The portfolio also includes two early stage immuno-oncology pipeline collaborations. Servier’s products will be commercialized in the United States through a newly-created subsidiary, SERVIER Pharmaceuticals LLC. Closing is expected in the second or third quarter of 2018 after obtaining authorizations from the competent competition authorities.
Servier is already present in the United States through several agreements with private and public partners and the Servier BioInnovation office. Located in the heart of Cambridge’s global life sciences hub, this new facility, opened in February 2018, is dedicated to identifying new R&D opportunities and intensifying Business Development & Licensing (BD&L) activities in the United States.
Advent International to acquire Sanofi’s Zentiva
for $2.3 billon
Advent International and Sanofi have entered into exclusive negotiations under which Advent would acquire Zentiva, Sanofi’s European generics business for $2.3 billion. Advent’s offer is firm, binding and fully financed.
Advent is a global investor, with over 25 years’ experience of investing in the healthcare sector. It has extensive experience of executing corporate carve-outs and will work collaboratively with Sanofi to form a new independent operation. Advent will support the Zentiva management team to invest in the company’s operations, production facilities and R&D pipeline.
“Zentiva is a robust business with a highly talented workforce and we believe it has demonstrated its potential for growth. Following a comprehensive review of strategic options for our generic unit in Europe, we have determined that transferring this business to Advent is the best option to ensure its long-term success,” said Olivier Brandicourt, Chief Executive Officer, Sanofi.
Wisconsin Pharmacal Company, manufacturer of pharmaceuticals, personal care and outdoor health and safety products, recently acquired substantially all of the assets of Premier Filling Company Inc. out of Geneva, IL. Most notably, this acquisition will bring Premier's Bag-on-Valve (BOV) filling capabilities in-house at Wisconsin Pharmacal Company's Jackson, WI facility.
BOV aerosol technology works by using compressed air around a filled bag-on-value unit inside a can as the pressure necessary to propel the product out of the can. Although bag-on-valve continuous sprays look like traditional aerosol cans from the outside, this superior spray dispensing system offers a multitude of benefits over traditional aerosols, including:
Environmentally friendly – contains no harmful propellants and completely recyclable
360° Spray - can be sprayed in any direction, even upside down, with no pumping or shaking
100% Emptying - dispenses 100% of the product in the can
100% Formula - a BOV is filled with 100% of actual formula with no need for propellants, giving it a longer shelf life and the ability to have a sterilize final product
Wisconsin Pharmacal Company acquires Premier Filling Company Inc.
At the Siemens Innovation Day, held in partnership with Expo 2020 Dubai and Dubai Electricity and Water Authority (DEWA), the company announced plans to boost investments into its digital presence in the Middle East with US$500 million over the next three years.
Among these investments are the MindSphere Application Centers with two planned in the United Arab Emirates. Siemens is committed to setting up 20 of these MindSphere Application Centers in 17 countries.
Each of the centers spans multiple locations in different countries and specializes in a particular industry in which Siemens is active. At these centers, around 900 software developers, data specialists and engineers work together with Siemens customers to develop digital innovations for data analysis and machine learning. These new solutions are being developed on MindSphere, Siemens’ open, cloud-based operating system for the Internet of Things (IoT). In the United Arab Emirates, the two new centers will be located in Dubai and Abu Dhabi. The MindSphere Application Center in Dubai will handle airports, logistics and cargo to co-develop innovative approaches that improve the movement of people and goods.
The center will optimize the efficiency of logistics by leveraging advanced analytics and IoT solutions provided by Siemens. The other center in Abu Dhabi will cater to process industries, mainly focusing on oil and gas, water and waste water, enabling customers to improve operational efficiency and reduce their costs across the whole value chain.
Siemens expands digital presence in Middle East with $500m investment
Radisson Hotel Group is excited to welcome the elegant Palazzo Montemartini in Rome to Radisson Collection, effective June 2018.
Built back in 1881, Palazzo Montemartini is now a prestigious hotel in the heart of Rome, situated near the Baths of Diocletian and the church of Santa Maria degli Angeli designed by Michelangelo. In style and setting, Palazzo Montemartini is a true individual, embodying the essence of Radisson Collection – which combines great design with a truly authentic flavour, a vibrant social scene and a unique location.
The Palazzo is made up of 82 stylish rooms and suites, as well as spacious events halls with natural light. Our exclusive Senses Restaurant & Lounge Bar offers local distinctive flavor, perfectly complemented by impeccable views of the Servian Wall – the very first wall of ancient Rome.
Iconic Palazzo Montemartini in Rome joins Radisson Collection
Mövenpick Hotels & Resorts unveils new lakeside hotel on the bank of Lake Tunis
Mövenpick Hotels & Resorts has unveiled a new contemporary hotel on the banks of majestic Lake Tunis, creating a business and leisure destination with a difference in a prime area of the Tunisian capital.
Marking another milestone in the company’s North African expansion strategy, Mövenpick Hotel du Lac Tunis has opened its doors, featuring 189 contemporary rooms and suites and a raft of exceptional dining, spa and meetings facilities.
Conveniently located in the city’s thriving Berges du Lac business and diplomatic district, just 10 minutes from Tunis-Carthage airport and downtown Tunis, 15 minutes from the trendy towns of Carthage, La Marsa and Sidi Bou Said, and within easy reach of the city’s cultural sites, shopping malls and golf courses, the new property has broad appeal, according to Marc Descrozaille, President – Middle East & Africa, Mövenpick Hotels & Resorts.
InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, has signed a Master Development Agreement (MDA) with Saudi Arabian business conglomerate, Al Hokair Group, which will see the debut of Holiday Inn Express brand in Saudi Arabia, with a rollout of at least 10 Holiday Inn Express hotels over next 15 years.
This significant development, which was announced at Arabian Hotel Investment Conference (AHIC), complements IHG’s robust pipeline in the Kingdom and cements its position as one of the leading operators in the country, as well as consolidating its partnership with the Al Hokair Group.
Al Hokair Group currently operates six Holiday Inn hotels in Saudi Arabia. As per the exclusive new agreement, the first Holiday Inn Express will be a 200-room hotel based in Jeddah, closely followed by openings in various key cities across the country. All 10 hotels will be operated under long-term franchise agreements.
Speaking on the announcement, Pascal Gauvin, Managing Director, India, Middle East and Africa, IHG said: “IHG has a strong legacy in Saudi Arabia, which is a key market for us in the Middle East. We are proud to once again collaborate with our esteemed long-term partner, Al Hokair Group, to bring the Holiday Inn Express brand to the country, and further expand our offering to domestic and international travellers, alike. The tourism landscape in Saudi Arabia is rapidly changing and we are excited to leverage the huge growth opportunities that Saudi Vision 2030 presents, particularly given that one of the biggest pillars of the plan is to bring more tourism into the country.”
IHG signs agreement with Al Hokair Hospitality for Holiday Inn Express in Saudi Arabia
IHG signs first Hotel Indigo in Gibraltar
IHG (InterContinental Hotels Group), one of the world’s leading hotel companies, is proud to announce the signing of Hotel Indigo® Gibraltar, under a franchise agreement with property developers, Roquebrook.
Often considered a home away from home for the British, Gibraltar offers guests a slice of British culture on Spain’s southern coast. Home to some of the most dramatic landforms in southern Europe, such as The Rock in the Upper Rock Nature Reserve, and famous natural caves, Gibraltar has much to offer nature enthusiasts as well as those seeking the hustle of a great range of festivals and nightlife.
Located close to the Old Town and just a five-minute drive from Gibraltar International Airport, the hotel will offer rooms facing north towards Spain and eastward-looking rooms with views over the historic Northern Defences. Converted from an existing office block, the building will be entirely reconfigured with a new facade and rooftop extension to form the ~120-room Hotel Indigo Gibraltar. Alongside the onsite gym, the hotel will also have a destination restaurant and bar designed to attract locals as well as guests, and will serve seasonally inspired dishes.
Just as no two places are alike, no two Hotel Indigo properties are the same. Each hotel design draws inspiration from local surroundings, meaning each Hotel Indigo is completely unique in look and feel.
RCI adds five new Resorts in Japan
RCI, the global leader in vacation exchange recently welcomed five new resorts in Japan to its RCI Weeks program, adding new holiday options to its 3.8 million global exchange members. These five properties are located across Japan in popular tourist destinations, including three new cities for RCI Members – Mie Prefecture, Aichi Prefecture, and Tochigi Prefecture.
“Japan remains one of the top travel destinations in the world,” said Jonathan Mills, managing director of RCI Asia Pacific and DAE Global. “We are delighted to welcome these five resorts to the RCI Weeks program, adding to the wealth of exchange options we offer in Japan. This addition brings RCI’s network in Japan to a current total of 21 affiliated resorts.”
According to statistics provided by JTB Tourism Research & Consulting, Japan welcomed a record of 28.7 million tourist arrivals in 2017, surpassing the total number of visitors in 2016 by 19 percent and keeping on track for the Japanese government’s target to boost the number of visitors to 40 million in 2020. While traditionally popular destinations like Tokyo, Kyoto and Osaka continue to be tourist favourites, efforts have been put in by the government to attract more international tourists to other prefectures. “An affiliation with RCI therefore establishes a mutually beneficial relationship for both parties – it will bring more international tourists to these beautiful destinations and resorts, and at the same time underscores RCI’s commitment to grow its vacation exchange network offerings for its members,” said Mills.
The five new resort properties that join the RCI exchange network include:
Went Awaji Higashikaigan
Villa Kita Karuizawa L-Wing
Mikawawan Resort Linx
Nasukogen TOWA Pure
Cocopa Resort Club
IHG strengthens partnership with Al-Futtaim
InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has further strengthened its long term alliance with Al-Futtaim, one of UAE’s most progressive business conglomerates, with the opening of the highly anticipated Holiday Inn Dubai Festival City, the largest Holiday Inn hotel in the UAE. On this occasion, the partners also announced the signing of a management agreement for Staybridge Suites Dubai Festival City, which will debut the brand in Dubai.
To mark this twofold celebration, IHG’s global leadership team including Global CEO, Keith Barr and CEO EMEAA, Kenneth Macpherson were present for the signing and opening ceremonies along with H.E. Helal Saeed Almarri, Director- General, Dubai Department of Tourism and Commerce, Omar Al Futtaim, Vice Chairman, Al-Futtaim, Abdallah Hageali, Group Director, Mixed Use Real Estate and Hospitality, Al-Futtaim and Moutaz Duwaji, Director of Hospitality, Al-Futtaim Group Real Estate, Al-Futtaim.
The new 508-room Holiday Inn Dubai Festival City features three food and beverage outlets, a rooftop bar (soon to be open), a pool and fitness centre, four meeting rooms and a conference centre with a capacity to seat 200 people. Situated 10 minutes away from the Dubai International Airport and in close proximity to business districts and tourist landmarks in the city, the hotel provides the perfect location for both business and leisure travellers. A city within a city, Dubai Festival City is a fully integrated mega project and a must-see destination which combines world-class shopping, hotels, entertainment and lifestyle, situated in one of Dubai’s most famous waterfronts. The ‘family friendly’ hotel is perfect for those travelling with children, offering direct access to Dubai Festival City’s retail and leisure facilities such as Toys “R” Us, Fabyland, a “futuristic” family entertainment destination for children of all ages and IMAGINE – a water, light and fire show at the Festival Bay at the Dubai Festival City Mall.
Hilton’s midscale hotel brand, Tru by Hilton, is celebrating the openings of five new hotels, three of which are the first college town properties, including Auburn, Alabama (Auburn University); Tallahassee, Florida (Florida State University) and Madison, Wisconsin (University of Wisconsin-Madison).
Tru by Hilton has disrupted the midscale hotel category and continues to enter diverse areas, with upcoming hotel openings in urban, suburban, resort and interstate locations. Fresh, distinct and innovative, Tru by Hilton delivers a unique, quality experience for families, future students and alumni.
The three new properties represent the first Tru by Hilton hotels in Wisconsin, Alabama and Florida.
The 106-room Tru by Hilton Madison West is located just 15 minutes from the University of Wisconsin – Madison and a short drive from downtown Madison, where guests can enjoy shopping, dining and entertainment on State Street and in Capitol Square.
The 98-room Tru by Hilton Auburn is situated off I-85, four miles from Auburn University, where families of students and alumni alike can enjoy Tigers’ games. The hotel is a 10-minute drive from downtown Auburn, where guests can shop and dine, as well as enjoy attractions like the Donald E. Davis Arboretum collection of native plants, the Jonathan Bell Lovelace Museum documenting the university’s athletics history and the Jule Collins Smith Museum featuring 18th–21st century art.
The 90-room Tru by Hilton Tallahassee Central is located nine miles from Tallahassee International Airport and four miles from Florida State University and downtown Tallahassee. Guests can visit the university or spend time in downtown Tallahassee, a center for shopping, dining and attractions that include the Museum of Florida History and the 1843 Knott House Museum.
Tru by Hilton announce the openings of five new Hotels in USA
The Procter & Gamble Company announced it has signed an agreement to acquire the Consumer Health business of Merck KGaA, Darmstadt, Germany, for a purchase price of approximately 3.4 billion euro.
This acquisition enables P&G to expand its successful consumer health care business by adding a fast-growing portfolio of differentiated, physician-supported brands across a broad geographic footprint. It also provides P&G with strong health care commercial and supply capabilities, deep technical mastery and proven consumer health care leadership that will complement P&G's existing consumer Health Care capabilities and brands such as Vicks, Metamucil, Pepto-Bismol, Crest and Oral-B.
P&G’s acquisition of the Consumer Health business of Merck KGaA, Darmstadt, Germany, will improve P&G’s OTC geographic scale, brand portfolio and category footprint in the vast majority of the world’s top 15 OTC markets. These brands provide great solutions in relieving muscle, joint and back pain, colds and headaches, as well as supporting physical activity and mobility, many of which are treatment areas not currently addressed in P&G’s portfolio.
P&G acquires Consumer Health Business of Merck KGaA, Darmstadt, Germany for $4.2 billion
Goldman Sachs and Vestar Capital Partners announced that they have signed a definitive agreement to sell Hearthside Food Solutions, the leading bakery, nutrition bar and snack supplier of choice to premier food companies, to an investment group led by Charlesbank Capital Partners, Partners Group (acting on behalf of its clients), and the company's management. Terms were not disclosed.
Hearthside Food Solutions is the nation's largest and fastest-growing independent bakery and a full-service contract manufacturer of high quality, grain-based food and snack products for many of the world's leading premier brands. Hearthside offers a diverse product portfolio, including nutrition bars, snack bars, cookies, crackers, and other grain-based snacks. The company manufactures its products across a network of 25 facilities in the United States and Europe.
Hearthside grew rapidly under the joint ownership of Goldman Sachs and Vestar. In just under four years, Hearthside completed four acquisitions, entered new categories, and expanded into Europe.
Goldman Sachs and Vestar Capital Partners agree to sell Hearthside Food Solutions
Eldorado Resorts, Inc. announced that it entered into a definitive agreement to acquire Tropicana Entertainment Inc. in a cash transaction that is valued at $1.85 billion. The definitive agreement provides that Gaming and Leisure Properties will pay $1.21 billion, excluding taxes and expenses, for substantially all of Tropicana’s real estate and enter into a master lease with Eldorado for the acquired real estate and that Eldorado will fund the remaining $640 million of cash consideration payable in the acquisition.
Pursuant to the transaction, GLPI is expected to acquire the real estate associated with the Tropicana property portfolio, except the MontBleu Casino Resort & Spa in South Lake Tahoe and the Tropicana Aruba Resort and Casino. Following the acquisition of the real estate portfolio by GLPI, Eldorado will enter into a triple net master lease for the acquired properties with an initial term of 15 years, with renewals of up to 20 years at the Eldorado’s option. The initial annual rent under the terms of the lease is expected to be approximately $110 million. Tropicana intends to dispose of Tropicana Aruba Resort and Casino prior to closing.
Eldorado Resorts is acquiring the operating assets of seven casinos in six states, including two in Nevada – the Tropicana Laughlin Hotel and Casino and the MontBleu Casino Resort & Spa in South Lake Tahoe – as well as casinos in Indiana (Tropicana Evansville), Louisiana (Belle of Baton Rouge Casino & Hotel), Mississippi (Trop Casino Greenville), Missouri (Lumière Place) and New Jersey (Tropicana Casino and Resort, Atlantic City).
Eldorado Resorts, Inc. to acquire Tropicana Entertainment for $1.8 bn
Diageo announces a £150 million investment over three years to transform its Scotch whisky visitor experiences in the biggest concerted programme ever seen in Scotland’s whisky tourism sector.
The centre-piece of the investment will be a new state-of-the-art Johnnie Walker immersive visitor experience based in Edinburgh, bringing to life the story of the world’s most popular Scotch whisky and creating a unique welcome for millions of Scotch fans around the world.
The company will also upgrade its existing network of 12 distillery visitor centres to create a new generation of Scotch attractions where people can meet the craftsmen and craftswomen who make the world’s greatest distilled spirit and putting Scotland at the cutting edge of the global boom in food and drink tourism.
Whisky from Diageo’s distilleries all over Scotland contribute to Johnnie Walker, but four distilleries,Glenkinchie, Cardhu, Caol Ila and Clynelish, will be linked directly to the Johnnie Walker venue in Edinburgh, representing the ‘four corners of Scotland’ and the regional flavour variations of Lowland (Glenkinchie), Speyside (Cardhu), Island (Caol Ila) and Highland (Clynelish) crucial to the art of whisky blending. Together this will create a unique Johnnie Walker tour of Scotland, encouraging visitors to the capital city to also travel to the country’s extraordinary rural communities.
Diageo’s other famous visitor distilleries: Lagavulin, Talisker, Glen Ord, Oban, Dalwhinnie, Blair Athol, Cragganmore and Royal Lochnagar, will also see investment to support the growth of single malt Scotch whisky. This is in addition to the £35 million already committed to re-open the ‘lost distilleries’ of Port Ellenand Brora, taking Diageo’s network of distilleries with specialist visitor experiences in Scotland to 14.
Biggest single investment in Scotch whisky tourism launched by Diageo
CPF acquires Brazil’s shrimp leading producer Camanor
Charoen Pokphand Foods PCL (CPF) has recently acquired 40% shares worth US$17.5 million in Camanor Produtos Marinhos Ltda., one of a leading shrimp farming and processor in Brazil to further expand the business into high-growth market.
Camanor engages in shrimp farming and primary processing businesses in Brazil. Its main products include fresh and frozen processed shrimp distributing through domestic wholesalers and export such as France. It has also developed and owned shrimp farming technology called AquaScience, which is a close operating system raising shrimp in a high density environment without using chemical or antibiotics, resulting in a high productivity per farm area.
“It is the synergy investment which will strengthen CPF’s competitiveness in shrimp business in terms of feed production, genetics improvement and shrimp processing capacity through the company’s vision “Kitchen of the World” by applying Camanor experiences in shrimp farming technology and CPF expertise in shrimp genetic. ” Mr. Adirek Said.
IFC, a member of the World Bank Group, is providing a senior syndicated loan of $82 million equivalent in Kazakh tenge to “Microfinance organization “KMF” LLC, a leading Kazakh microfinance institution, to boost lending to micro and small enterprises, including women entrepreneurs and customers in rural areas of Kazakhstan.
The investment comprises a senior loan of $10 million for IFC’s own account and a Hedged A-Loan Participation (HALP) of up to $72 million for the account of leading international investors, and is the largest ever deal in the microfinance sector of Kazakhstan. IFC uses the HALP, a syndication product allowing IFC to sell U.S. dollar participation in a local currency-denominated loan, to provide KMF with much needed local currency financing to support its growth while protecting the investors from currency risk. The group of committed investors consists of Invest in Visions GmbH; Incofin Investment Management; Triple Jump V.A.; MicroVest Short Duration Fund; Bank im Bistum Essen eG; Oikocredit, Ecumenical Development Cooperative Society U.A; and Symbiotics SA.
IFC Makes Largest Ever Microfinance Investment in Kazakhstan
Lagos State, Nigeria’s largest healthcare market, lacks an adequate supply of quality secondary and tertiary healthcare facilities with only about 700 to 1,000 quality beds for a population of over 21 million people.
It is in response to this latent situation, that the Board of Directors of the African Development Bank has approved a Senior Loan in Naira (equivalent to USD 20 million) to Santa Clara Medical Limited, to finance the development of a hospital and referral clinics in Lagos, Nigeria. By supporting investment in healthcare infrastructure, the Bank will help the Nigerian government develop human capital through improved service delivery in the healthcare system.
The hospital and referral clinics will be situated in different locations in Lagos and will upon completion in 2020, provide a full spectrum of high quality general and specialist healthcare services at competitive prices. It is expected to have positive economic and social benefits for the city of Lagos and will create around 250 temporary jobs during the construction period and 600 jobs over its operation phase. More importantly, it will significantly improve private healthcare services by offering quality general medical services in addition to specialty services such as orthopedic, nephrology, urology, cardiology and neuro surgery that are largely unavailable in the country.
The African Development Bank supports Nigeria’s healthcare sector
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